IM
IC Markets
3.9 / 5Score: 2 / 4
Deep multi-asset access with raw spreads and professional-grade platforms for serious traders.
- Min deposit
- $200
- Max leverage
- 1:500
- Spread from
- 0 pips
- Regulators
- ASIC, CySEC
Reviewed by Experts Updated 9/24/2026
IC Markets vs Merrill Edge: Which Broker Wins in 2026?
IC Markets and Merrill Edge serve very different types of traders, but only one delivers a genuinely competitive all-around package. Our research places IC Markets ahead with a 3.9/5 rating against Merrill Edge's 3.2/5, driven by superior regulation, leverage, and market access.
ME
Merrill Edge
3.2 / 5Score: 2 / 4
A zero-minimum-deposit entry point for straightforward US stock investing.
- Min deposit
- $0
- Max leverage
- 1:2
- Spread from
- 0 pips
- Regulators
- SEC
Overall Winner
IC Markets
Best for Beginners
Merrill Edge
Lowest Fees
IC Markets
Top Regulation
IC Markets
Side-by-side comparison
Core features compared head-to-head.
| Feature | IM IC Markets | ME Merrill Edge |
|---|---|---|
| Overview | ||
| Rating | 3.9 / 5 | 3.2 / 5 |
| Founded | 2007 | 2010 |
| Headquarters | Sydney, Australia | Charlotte, USA |
| Regulation | ASIC, CySEC | SEC |
| Fees & Limits | ||
| Min Deposit | $200 | $0 |
| Spreads From | 0 pips | 0 pips |
| Commission | $3.5/lot | None |
| Max Leverage | 1:500 | 1:2 |
| Platforms & Markets | ||
| Trading Platforms | MT4, MT5, TradingView, Proprietary Mobile | Proprietary Web, Proprietary Mobile |
| Markets Offered | Forex, Cfd, Crypto, Stocks, Indices, Commodities | Stocks, Indices |
Trading & non-trading fees
Min Deposit
IC Markets
$200
Merrill Edge
$0
Spreads From
IC Markets
0 pips
Merrill Edge
0 pips
Commission
IC Markets
$3.5/lot
Merrill Edge
None
Deposit Fees
IC Markets
None
Merrill Edge
None
Withdrawal Fees
IC Markets
None
Merrill Edge
None
Pros & cons
IM
IC Markets
Pros
- Higher overall rating of 3.9/5 in our independent research
- Broader regulatory coverage with two tier-1 licences
- Significantly higher leverage ceiling at 1:500
- Access to six distinct market categories versus a narrower alternative
- Supports industry-standard platforms including MT4 and MT5
- Competitive commission-based pricing suited to active trading
- No fees charged on deposits or withdrawals
Cons
- Higher minimum deposit requirement of $200
- Commission charges apply on top of spreads
- Platform complexity may feel steep for absolute beginners
- Leverage of 1:500 carries elevated risk if used carelessly
ME
Merrill Edge
Pros
- No minimum deposit makes it highly accessible to new investors
- Zero per-trade commission on supported markets
- Simple, easy-to-navigate proprietary platforms
- No hidden deposit or withdrawal fees
- Straightforward setup ideal for first-time stock investors
Cons
- Limited to just stocks and indices with no forex or crypto access
- Maximum leverage of only 1:2 restricts active trading strategies
- Single regulatory licence compared to competitors with dual oversight
- No support for MT4, MT5, or third-party charting tools
- Lower overall rating of 3.2/5 in our independent research
Our expert verdict
Editor's verdict
Overall winner IC Markets
Lowest fees IC Markets
Best regulation IC Markets
Better for beginners Merrill Edge
IC Markets is our top recommendation in this matchup, earning 3.9/5 in our proprietary rating versus 3.2/5 for Merrill Edge. IC Markets pulls ahead thanks to tighter spreads, deeper regulatory coverage, higher leverage, and a far broader range of tradable markets including forex, crypto, and commodities. Merrill Edge remains a reasonable pick for cost-conscious beginners who only want US stock exposure with zero minimum deposit, but it simply cannot match IC Markets' depth for active traders.
Regulation & Safety
IC Markets is regulated by ASIC and CySEC, two well-respected tier-1 regulatory bodies known for strict capital adequacy and client fund segregation requirements. This dual-licence structure gives traders in multiple jurisdictions a comparable layer of oversight regardless of where they sign up.
Merrill Edge operates solely under SEC oversight in the United States, which is also a robust regulatory framework but limits its footprint to a single jurisdiction. For traders who value multi-regulatory redundancy, IC Markets holds a clear structural advantage.
Both brokers report no deposit or withdrawal fees, which is a positive for cost transparency on either side. However, when it comes to breadth of regulatory coverage, IC Markets edges ahead as our pick for safety-conscious traders.
Fees, Spreads & Commissions
Both brokers advertise spreads starting from 0 pips, making this category closer than it might initially appear. IC Markets charges a transparent commission of $3.5 per lot on its raw spread accounts, a standard structure for ECN-style forex trading that professional traders widely accept.
Merrill Edge charges no per-trade commission at all, which can be appealing for buy-and-hold stock investors who trade infrequently. However, its extremely limited market scope means this fee advantage only applies to a narrow segment of assets.
For active forex and CFD traders who value tight, consistent pricing across many instruments, IC Markets' commission-inclusive model tends to deliver better overall value at volume.
Minimum Deposit & Accessibility
Merrill Edge requires no minimum deposit at all, making it one of the most accessible platforms for beginners or traders testing the waters with minimal capital.
IC Markets requires a $200 minimum deposit, which is still moderate by industry standards but represents a real barrier for the smallest accounts. This makes Merrill Edge the more attractive entry point purely from a capital-accessibility standpoint.
That said, the $200 threshold at IC Markets unlocks access to a dramatically larger universe of tradable products and higher leverage, which may justify the higher entry cost for most serious traders.
Trading Platforms & Tools
IC Markets supports MetaTrader 4, MetaTrader 5, TradingView integration, and a proprietary mobile app, giving traders access to industry-standard charting, automated trading via Expert Advisors, and flexible execution tools.
Merrill Edge relies on a proprietary web platform and proprietary mobile app only. While these are functional for basic stock trading and research, they lack the algorithmic trading support and third-party charting integrations that MT4/MT5 users expect.
For traders who rely on custom indicators, automated strategies, or multi-device syncing across MetaTrader ecosystems, IC Markets is the clear winner in this category.
Market Access & Leverage
IC Markets supports six distinct asset classes: forex, CFDs, crypto, stocks, indices, and commodities, giving traders enormous flexibility to diversify within a single account.
Merrill Edge restricts trading to stocks and indices only, which suits long-term equity investors but offers no route into forex, crypto, or commodity markets.
Leverage also differs sharply — IC Markets offers up to 1:500 for eligible accounts, while Merrill Edge caps out at 1:2, reflecting its conservative, buy-and-hold brokerage model rather than an active trading platform.
Our Verdict
IC Markets is our recommended pick in this comparison, scoring 3.9/5 versus Merrill Edge's 3.2/5. Both brokers carry credible regulation, but IC Markets' dual tier-1 licensing, wider market range, and flexible platform ecosystem make it the stronger all-around choice.
Traders with smaller budgets may still find Merrill Edge's $0 minimum deposit more accessible for a simple stock-investing entry point. But for anyone seeking forex, crypto, or CFD exposure with professional-grade tools, IC Markets delivers a substantially stronger package.
Verdict summary
The bottom line — category winners and our final pick based on ratings.
Editor's verdict
IC Markets wins overall
IC Markets edges out Merrill Edge overall based on our expert rating score.
IM
Highest Rated
IC Markets
3.9 / 5 / 5
Category winners
Overall winner
Based on overall expert rating (3.9/5).
IC MarketsBetter for beginners
Stronger onboarding and educational resources.
Merrill EdgeLower trading costs
More competitive spreads and baseline commissions.
IC MarketsStronger regulation
Higher trust based on tier-1 regulatory oversight.
IC Markets
Frequently asked questions
Based on our independent rating system, IC Markets scores higher overall at 3.9/5 compared to Merrill Edge's 3.2/5. IC Markets pulls ahead due to broader regulation, higher leverage, and access to a much wider range of markets. The right choice still depends on whether you need forex and crypto access or simply want basic US stock exposure.
Both brokers advertise spreads starting from 0 pips, but their fee structures differ significantly. IC Markets charges a $3.5 per lot commission on top of its raw spreads, while Merrill Edge charges no per-trade commission at all. Active traders on high volume typically find IC Markets more cost-efficient, while infrequent stock investors may prefer Merrill Edge's zero-commission model.
IC Markets requires a minimum deposit of $200 to open an account, while Merrill Edge has no minimum deposit requirement at all. This makes Merrill Edge more accessible for beginners with limited starting capital, though IC Markets' higher threshold unlocks a much wider range of tradable assets.
IC Markets is regulated by both ASIC and CySEC, giving it dual tier-1 regulatory coverage across two major jurisdictions. Merrill Edge operates under a single SEC licence in the United States. While both regulators are reputable, IC Markets' broader oversight structure gives it a slight edge in our safety assessment.
IC Markets supports MetaTrader 4, MetaTrader 5, TradingView integration, and a proprietary mobile app, catering to traders who want automated strategies and advanced charting. Merrill Edge offers only a proprietary web platform and proprietary mobile app, which are suitable for basic stock trading but lack third-party charting and algorithmic trading support.
No, Merrill Edge only supports stocks and indices, with no access to forex, crypto, or commodities. Traders seeking exposure to these asset classes will need to use a broker like IC Markets, which supports six distinct market categories including forex and crypto.
IC Markets offers leverage of up to 1:500 for eligible accounts, which suits experienced forex and CFD traders seeking amplified exposure. Merrill Edge caps leverage at just 1:2, reflecting its conservative, long-term investing model rather than active trading focus.
Yes, there is nothing preventing you from holding accounts at both brokers simultaneously. Many traders use IC Markets for active forex and CFD trading while maintaining a separate Merrill Edge account for long-term US stock investing, effectively diversifying their access across different market types.
No, both IC Markets and Merrill Edge report no deposit or withdrawal fees, making fund transfers cost-free on either platform. This is a strong point of parity between the two brokers, so your decision should be based more on trading costs, market access, and platform tools rather than transfer fees.
Merrill Edge is generally better suited for absolute beginners thanks to its $0 minimum deposit, zero commissions, and simple proprietary platform designed for straightforward stock investing. IC Markets, while still accessible, is better suited to traders who are ready to engage with more complex multi-asset trading and higher leverage.
Risk warning: Trading CFDs and forex involves significant risk of loss and is not suitable for all investors. Please consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.